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:. Documentary Stamp Tax

Contents

DescriptionTax FormDocumentary RequirementsTax RatesProceduresDeadlinesRelated Revenue IssuancesCodal ReferenceFrequently Asked Questions

Description

Documentary Stamp Tax is a tax on documents, instruments, loanagreements and papers evidencing the acceptance, assignment, sale ortransfer of an obligation, right or property incident thereto.

Tax Form

BIR Form 2000 (Documentary Stamp Tax Declaration Return)

Documentary Requirements

1) Photocopy of document(s) to which the documentary stamp shall be affixed, incase of constructive affixture of Documentary Stamp Tax

2) For metering machine users, a schedule of the details of usage orconsumption of documentary stamp

3) Proof of exemption under special law, if applicable

4) Duly approved Tax Debit Memo, if applicable

Tax Rates

TaxCode

SectionDocument Taxable Unit

TaxDue Per

Unit

% ofUnit

Taxable Base

174

Debentures andCertificates of

Indebtedness

P200.00 orfraction

thereof

P1.50 .75%Face value of

Document

175

Original Issue ofShares of Stockwith par value

Original Issue ofShares of Stock

P200.00 orfractionthereof


2.00

2.00

1%

1%

Par value of sharesof stocks actualconsideration for theissuance of shares of

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Shares of Stockwithout par value

thereofbased onactualconsideration

issuance of shares ofstocks

176

Sales,Agreements toSell, Memorandaof Sales,Deliveries orTransfer of Due-bills, Certificateof Obligation, orShares orCertificates ofStock


1.50 .75%

Par value of suchdue-bills, certificateof obligation orstocks

177

Bonds,Debentures,Certificate ofStock orIndebtednessissued in foreignCountries


1.50 .75%Par value of suchbonds, debentures orCertificate of Stocks

178

Certificate ofProfits or Interestin Property orAccumulation


.50 .25%Face value of suchcertificate /memorandum

179

Bank Checks,Drafts, Certificateof Deposit notbearing interestand otherInstruments

On eachDocument

1.50

180

Bonds, LoanAgreements,PromissoryNotes, Bills ofExchange, Drafts,Instruments andSecurities Issuedby theGovernment orany of itsInstrumentalities,DepositSubstitutes DebtInstrument,Certificates ofDeposit bearinginterest andothers notpayable on sightor demand(except loanagreement orpromissory notesexceedingP250,000.00 forpersonal use orfamily use)


.30 .15%Face value of theinstrument/document

181

Bills of Exchangeor order drawn inforeign countrybut payable in

the Philippines


.30 .15%

Face value of suchbill of exchange ororder or theequivalent of suchvalue, if expressed

in foreign currency

182Foreign Bills ofExchange andLetter of Credit


.30 .15%

Face value of suchbill of exchange ororder or theequivalent of suchvalue, if expressedin foreign currency

183Life InsurancePolicies


.50 .25%Amount Insured bythe Policy

184Policies OfInsurance uponProperty

P4.00premium orfractionthereof

.50 12.5% Premium charged

Fidelity Bondsand other

P4.00premium or



185and otherInsurancePolicies

premium orfractionthereof


186

Policies ofAnnuities,Annuity or otherinstruments


1.50 75%

Capital of annuity, orif unknown 33 1/3times the annualincome

186 Pre-Need PlansP500.00 orfractionthereof

.50 .10%Value or amount ofthe Plan

187 Indemnity BondsP4.00 orfractionthereof


188

Certificates ofDamage orotherwise andCertificate ordocument issuedby any customsofficers, marinesurveyor, notarypublic andcertificaterequired by law orby rules andregulations of apublic office

EachCertificate

15.00

189

WarehouseReceipts (exceptif value does notexceed P200.00)

Each Receipt 15.00

190

Jai-alai, HorseRace Tickets,lotto or OtherAuthorizedNumber Games

P1.00 cost ofticket and

AdditionalP0.10 onevery P1.00or fractionthereof ifcost of ticketexceedsP1.00

.10 10% Cost of the ticket

191

Bills of Lading orReceipts

(except charterparty)

Each Proxy 15.00

193Powers ofAttorney

EachDocument

5.00

194

Lease and otherHiring

agreements ofmemorandum orcontract for hire,use or rent ofany land ortenements orportions thereof

First 2,000

For everyP1,000 orfractional

part thereofin excess ofthe firstP2,000 foreach year ofthe term ofthe contractoragreement

3.00

1.00

1.5%

1%

195

MortgagesPledges of lands,estate, orproperty andDeeds of Trust

First 5,000

On eachP5,000 orfractionalpart thereofin excess of5,000

20.00

10.00

.4%

.2%

Amount Secured

Amount Secured

196

Deed of Sale,instrument orwriting andConveyances ofReal Property(except grants,patents ororiginal certificateof the

First 1,000

For eachadditionalP1,000 orfractionalpart thereofin excess ofP1,000

15.00

15.00

1.5%

1.5%

Consideration or FairMarket Value,whichever is higher(if government is aparty, basis shall bethe consideration)



of thegovernment)

P1,000

197Charter partiesand SimilarInstruments

1,000 tonsand below

1,001 to10,000 tons

Over 10,000tons

P500.00for thefirst 6monthsPlusP50eachmonthorfractionthereofinexcessof 6months

P1,000for thefirst 6monthsPlusP100eachmonthorfractionthereofinexcessof 6months

P1,500for thefirst 6monthsPlusP150eachmonthorfractionthereofin

excessof 6months

Procedures

File BIR Form No. 2000 in triplicate (two copies for the BIR and one copy for thetaxpayer) with the Authorized Agent Bank (AAB) in the Revenue District where theseller or transferor is registered, for shares of stocks or where the property islocated, for real property. In places where there are no AAB, the return will befiled directly with the Revenue Collection Officer or Authorized City or MunicipalTreasurer.

Submit all documentary requirements and proof of payment to the RevenueDistrict Office having jurisdiction over the place of residence of the seller.

Deadlines

The Documentary Stamp Tax return (BIR Form 2000) shall be filed in triplicate(two copies for the BIR and one copy for the taxpayer) within five (5) daysafter the close of the month when the taxable document was made signed,issued, accepted or transferred; when reloading a metering machine becomesnecessary; or upon remittance by Collection Agents of collection from sale ofloose stamps. The Documentary Stamp Tax shall be paid upon filing of thereturn.

Related Revenue Issuances



RR No. 6-2001, RMO No. 8-98, RMO No. 15-2001

Codal Reference

Sec. 173 to Sec. 201 of the National Internal Revenue Code

Frequently Asked Questions

1) Who are required to file Documentary Stamp Tax Declaration Return?

a) In case of constructive affixture of documentary stamps, by the personsmaking, signing, issuing, accepting or transferring documents, instruments, loanagreements and papers, acceptances, assignments, sales and conveyances ofthe obligation, right or property incident thereto wherever the document is made,signed, issued, accepted or transferred when the obligation or right arises fromPhilippine sources or the property is situated in the Philippines at the same timesuch act is done or transaction had;

b) By metering machine user who imprints the Documentary Stamp Tax due onthe taxable documents; and

c) By Revenue Collection Agent, for remittance of sold loose documentarystamps.

Note: Wherever one party to the taxable document enjoys exemption from thetax imposed, the other party who is not exempt will be the one directly liable tofile Documentary Stamp Tax Declaration and pay the applicable stamp tax.

2) Where is the Documentary Stamp Tax Declaration Return filed?

In the Authorized Agent Bank (AAB) within the territorial jurisdiction of the RDOwhich has jurisdiction over the residence or principal place of business of thetaxpayer or where the property is located in case of sale of real property or wherethe Collection Agent is assigned. In places where there is no Authorized AgentBank, the return will be filed with the Revenue Collection Officer or dulyauthorized City or Municipal Treasurer where the taxpayer's residence or principalplace of business is located or where the property is located in case of sale ofreal property or where the Collection Agent is assigned.

3) What are the documents/papers not subject to Documentary Stamp Tax?

Policies of insurance or annuities made or granted by a fraternal orbeneficiary society, order, association or cooperative company, operatedon the lodge system or local cooperation plan and organized andconducted solely by the members thereof for the exclusive benefit of eachmember and not for profit

Certificates of oaths administered by any government official in his officialcapacity or acknowledgement by any government official in performance ofhis official duty

Written appearance in any court by any government official in his officialcapacity

Certificates of the administration of oaths to any person as to theauthenticity of any paper required to be filed in court by any person orparty thereto, whether the proceedings be civil or criminal

Papers and documents filed in court by or for the national, provincial, cityor municipal governments

Affidavits of poor persons for the purpose of proving poverty

Statements and other compulsory information required of persons orcorporations by the rules and regulations of the national, provincial, city ormunicipal government exclusively for statistical purposes and which arewholly for the use of the Bureau or office in which they are filed, and not atthe instance or for the use or benefit of the person filing them

Certified copies and other certificates placed upon documents, instrumentsand papers for the national, provincial, city or municipal governmentsmade at the instance and for the sole use of some other branch of thenational, provincial, city or municipal governments

Certificates of the assessed value of lands, not exceeding P200 in valueassessed, furnished by the provincial, city or municipal Treasurer toapplicants for registration of title to land

4) What are the implications of failure to stamp taxable documents?



4) What are the implications of failure to stamp taxable documents?

The untaxed document will not be recorded, nor will it or any copy thereofor any record of transfer of the same be admitted or used in evidence incourt until the requisite stamp or stamps have been affixed thereto andcancelled

No notary public or other officer authorized to administer oaths will add hisjurat or acknowledgment to any document subject to Documentary StampTax unless the proper documentary stamps are affixed thereto andcancelled.

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